ehh i do things kind of strange…i get paid once a week, and my car payment is always due the last week in the month. So, the first week of each month, i put my entire paycheck (and then a little extra out of the bank) to pay my car payment and get it out of the way. second pay check of the month i take care of my phone bill and insurance. that gets those out of the way. last 2 weeks are for saving and credit card bills. so after all that useless information, right now i spend about 1/4 of my income on my car payment. that will be changing into what seems to be the “average” 7-8% when i start my new job in January and start making some decent money. Although I also plan to double up on payments to get ahead whenever possible.
4 cars all paid for…I would never take a payment over 300 a month, even if I made over 100k a year, just me…not worth more then that.
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multiply how much you make a year by the term of the loan in years.
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Buy said car and shut up.
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Find another job to pay for the interest.
Viper on a paperboy salary?
we spend approx 20% of our monthly net pay…
Thats for 2 cars though…one of which is about to be paid off.
whats nice, is the one thats about to be paid off…is worth alot more today, than what i paid for it.
My car payment is 3.78% of monthly gross.
Cheap truck…lol
lol
My volvo was in the $1000-$1500 range (it was traded to me,plus other things).
a few weeks back I was rear ended,progressive wrote me a check for $1500 in damages and doesn’t look any different than pre-accident.It suffered mild exhaust damage and my bumper cover has a tiny crack.Its built like a tank.
I wont buy a brand new car until I buy myself a house.
Not if someone is still living with their parents and parents paying for their food.
0% of net for car.
.85% of my wife and my net for house.
Brian
I dont know about that. Perhaps maybe someone can get away with part-time McDonalds though…?
In that case I will buy a SLR McLaren on a 30 year loan.
You are getting the hang of it now!
Meh depends alot on cost of living/quality of life really. Say you live owna 6 bedroom double in Buffalo you paid 100k and rent half of it. You monthly out of pocket living there is probably ~$400. I see no reason a person in this type situation couldnt comfortably drive a 30k car on 40k and still be able to put money into savings etc. Obviousley in other area with higher cost of living it wouldnt be possible. Im not saying its a smart move at all im just saving its very relative to where you are is all.
even still, if it was me in that situation, id still rather drive a “lesser” car and save money to get out of said living situation. the more and more i think about it, im starting to value having no debt and being able to have a house more and more. i wish i would have realized that 7 or 8 cars ago and would probably have a decent chunk of money saved up by now. oh well, live and learn i guess.